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TABLE OF CONTENTS Jun 23 - 29, 2014 Volume 100 Number 19 - 0 comments

U.S. equities waver on global tensions, June 9-13

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2014-06-18

An insurgency by a radical Islamist group in Iraq and renewed tensions in the Ukraine put downward pressure on U.S. equity markets during the week, but pushed oil and gold prices up, lifting the fortunes of many precious metal companies. The Dow Jones Industrial Average and the S&P 500 Index fell 0.88% to 16,775.74 and 0.68% to 1,936.16. Gold closed at US$1,275.90 per oz. to gain  US$23.60 per oz., or 1.89%, and the Philadelphia Gold & Silver Index climbed 6.46% to 92.30.

Franco-Nevada, Randgold Resources, Royal Gold, Agnico Eagle Mines and Goldcorp were the biggest beneficiaries of higher gold prices, with their share prices rising to US$4.19, US$4.12, US$3.31 and US$2.20, on no material news.

Seabridge Gold’s announcement during the trading week that it has started exploration drilling at its wholly owned KSM project in B.C. drove its shares 19.5% higher to US$8.64. The exploration program will expand the 515-million-tonne inferred resource averaging 0.53% copper and 0.36 gram gold per tonne found last year at Deep Kerr and increase its average grade. It will also test prospective core zone targets that the company believes could have large, high-grade deposits similar to Deep Kerr, including the Iron Cap deposit at depth.

Shares of NovaGold Resources surged 20.3% to US$4.08 after a milestone agreement at its flagship 50%-owned Donlin Gold project in Alaska. The company announced on June 9 that it had reached an updated long-term surface-use agreement with Kuskokwim Corp. The agreement has been extended to coincide with the projected mine life at Donlin Gold, with provisions for an extension if production continues. Donlin Gold has measured and indicated resources of 541 million tonnes averaging 2.2 grams gold per tonne, and according to an updated feasibility study, should average 1.5 million oz. gold per year for the first five full years of production, followed by decades of more than 1 million oz. per year on a 100% basis. Permitting got underway in 2012 and is expected to take four years.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 51850 14.58 13.93 14.52 + 0.17
Barrick Gold* ABX 39242 17.06 15.97 16.99 + 0.94
Freeport McMo* FCX 35779 34.96 33.39 33.97 - 0.96
North Am Pall* PAL 34211 0.33 0.28 0.33 + 0.05
Hecla Mining* HL 30690 3.16 2.9 3.1 + 0.21
Peabody Enrgy* BTU 30641 16.88 16.13 16.79 + 0.45
Kinross Gold* KGC 30527 4.15 3.87 4.13 + 0.24
Alpha Nat Res* ANR 27943 3.74 3.41 3.7 + 0.31
Cliffs Nat Rs* CLF 26367 14.8 13.6 14.14 - 0.34
Newmont Mng* NEM 26107 23.48 22.57 23.4 + 0.32

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Rubicon Mnls* RBY 4389 1.24 0.94 1.23 + 29
Golden Mnls* AUMN 846 0.7 0.53 0.67 + 28.6
Allied Nevada* ANV 1621 3.61 2.89 3.55 + 24.5
Revett Mnls* RVM 1380 0.98 0.78 0.98 + 23.8
Minco Gold* MGH 569 0.45 0.32 0.38 + 21
Vista Gold* VGZ 2088 0.48 0.38 0.46 + 21
NovaGold Res* NG 9363 4.09 3.39 4.08 + 20.3
Seabridge Gld* SA 2541 8.79 7.09 8.64 + 19.5
Mechel* MTL 904 2.41 2 2.38 + 19
Golden Star* GSS 5899 0.59 0.49 0.59 + 18
Quest Rare Mn* QRM 2079 0.34 0.27 0.28 - 15.3
Exeter Res* XRA 76 0.71 0.63 0.65 - 7.1
Hi-Crush Part* HCLP 200 52.95 47.49 49.24 - 6.9
NovaCopper* NCQ 871 0.95 0.85 0.89 - 5.3
Stillwater Mg* SWC 13549 18 16.23 16.56 - 4.4
Timberline Rs* TLR 225 0.13 0.1 0.11 - 4.3
Oxford Res P* OXF 14 1.02 0.9 0.94 - 4
US Silica Hld* SLCA 974 53.8 49.24 51.31 - 3.6
Rio Tinto* RIO 1852 53.6 51.17 51.6 - 3.5
Turquoise HIl* TRQ 2177 3.8 3.6 3.67 - 3.1

U.S. greatest value change


Company Symbol Change Close Change
Franco-Nevada* FNV 2300485 50.41 + 4.19
Randgold Res* GOLD 2010097 77.51 + 4.12
Royal Gold* RGLD 2302988 67.42 + 3.31
Agnico-Eagle* AEM 8386417 33.29 + 2.59
Goldcorp* GG 24196782 25.2 + 2.2
Tahoe Res* TAHO 118947 22.86 + 1.65
Silver Wheatn* SLW 17272781 22.61 + 1.65
Seabridge Gld* SA 2540897 8.64 + 1.41
Natural Rs Pt* NRP 444539 15.29 + 1.39
Silver Std Re* SSRI 6019527 7.96 + 1.19
Hi-Crush Part* HCLP 199837 49.24 - 3.65
US Silica Hld* SLCA 974112 51.31 - 1.94
Rio Tinto* RIO 1852414 51.6 - 1.87
Consol Energy* CNX 18526847 46.09 - 1.36
BHP Billi-BHP* BHP 6377577 66.78 - 1.17
Freeport McMo* FCX 35778585 33.97 - 0.96
Alliance Rs P* ARLP 455255 87.36 - 0.95
OM Group* OMG 531154 30.67 - 0.91
BHP Billi-BBL* BBL 1495915 62.74 - 0.84
Stillwater Mg* SWC 13549486 16.56 - 0.77


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